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> transfer of money across nations currently relies on "an archaic network of corresponding banks" that costs users a global average of 6.4 percent of the total
by matkoniecz 4y ago
> transfer of money across nations currently relies on "an archaic network of corresponding banks" that costs users a global average of 6.4 percent of the total transfer value
OK, that explains why even blockchain may be better
Still, equivalent of EU system would be likely even better.
- coldtea 4y agoThough there's nothing blockchain offers that is really needed to fix the "costs users a global average of 6.4 percent of the total transfer value" (or the speed). The transfer value cut, for example, could be lessened or even eliminated altogether, just by being mandated by international legal agreements and imposed onto the banks.